Hong Kong probes UBS

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UBSRoof REUTERS A logo of Swiss bank UBS is seen on a building in Zurich December 18, 2012. UBS said it will pay 1.4 billion Swiss francs ($1.53 billion) and admit wrongdoing at its Japanese arm to settle a wide-ranging, multi-regulator probe into how the Swiss bank's traders manipulated yen Libor and euroyen contracts. Picture taken December 18, 2012.

Hong Kong's de facto central bank said Thursday it would probe Swiss banking giant UBS over claims of possible rigging of Hong Kong's interbank offered rate (HIBOR).

“The HKMA has commenced an investigation with a view to ascertaining any misconduct committed by the bank in relation to HIBOR submissions,” the Hong Kong Monetary Authority said in a statement, adding it had received information of possible misconduct. - Sapa-AFP


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